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First quarter 2022

Historic energy consumption and high exports push Hydro‑Québec’s quarterly net income above $2 billion

For the first three months of 2022, Hydro‑Québec posted net income of $2,062 million, up $421 million over the $1,641 million recorded for the same period in 2021. This increase is mainly due to higher sales revenue, both in and outside Québec, which was partially offset by an increase in short‑term purchases on electricity markets to meet ad hoc requirements resulting from cold winter temperatures.

Une énergie propre à nous.
  • Quarterly Bulletin – Q1 2022 [PDF 656 kB]
  • Earlier quarterly publications

Quarter highlights

  • Québec market:
    • High sales volume: 58.7 TWh
    • Cold temperatures
      • January 2022: 7°C lower than in January 2021
    • Electricity demand up in all customer segments
  • Markets outside Québec:
    • Significant price increase on export markets
      • Average sales price (including hedges): 7.4¢/kWh versus 5.1¢/kWh in the first quarter of 2021
    • High export volume: 8.7 TWh
Une énergie propre à nous.
  • Quarterly Bulletin – Q1 2022 [PDF 656 kB]
  • Earlier quarterly publications
  • Investments:
    • $856 million invested in property, plant and equipment and intangible assets in all regions of Québec
      • Increase of nearly 20% compared to the same quarter last year
    • More than two thirds of investments allocated to asset sustainment
  • Financing:
    • Two fixed‑rate issues with proceeds totaling $1.0 billion
      • Medium‑term notes maturing in 2028, at a cost of 2.05%: $0.6 billion
      • Bonds maturing in 2060, at a cost of 3.04%: $0.4 billion

Earlier quarterly publications

  • 2021 − Third quarter [PDF 783 kB]
  • 2021 − Second quarter [PDF 821 kB]
  • 2021 − First quarter [PDF 521 kB]
  • 2020 − Quarterly Report − Third quarter [PDF 305 kB]
    • Message from the President and CEO − Third quarter 2020 [PDF 3.31 MB]
  • 2020 − Quarterly Report − Second quarter [PDF 188 kB]
    • Message from the President and CEO − Second quarter 2020 [PDF 4.14 MB]
  • 2020 − Quarterly Report − First quarter [PDF 241 kB]
    • Message from the President and CEO − First quarter 2020 [PDF 1.17 MB]
  • 2019 − Quarterly Report − Third quarter [PDF 854 kB]
    • Message from the President and CEO − Third quarter 2019 [PDF 914 kB]
  • 2019 − Quarterly Report − Second quarter [PDF 274 kB]
    • Message from the President and CEO − Second quarter 2019 [PDF 0.97 MB]
  • 2019 − Quarterly Report − First quarter [PDF 154 kB]
    • Message from the President and CEO − First quarter 2019 [PDF 594 kB]
  • 2018 − Quarterly Report − Third quarter [PDF 320 kB]
    • Message from the President and CEO − Third quarter 2018 [PDF 366 kB]
  • 2018 − Quarterly Report − Second quarter [PDF 253 kB]
    • Message from the President and CEO − Second quarter 2018 [PDF 479 kB]
  • 2018 − Quarterly Report − First quarter [PDF 272 kB]
    • Message from the President and CEO − First quarter 2018 [PDF 972 kB]
  • 2017 − Quarterly Report − Third quarter [PDF 210 kB]
    • Message from the President and CEO − Third quarter 2017 [PDF 1.07 MB]
  • 2017 − Quarterly Report − Second quarter [PDF 182 kB]
    • Message from the President and CEO − Second quarter 2017 [PDF 2.09 MB]
  • 2017 − Quarterly Report − First quarter [PDF 173 kB]
    • Message from the President and CEO − First quarter 2017 [PDF 941 kB]
  • 2016 − Quarterly Report − Third quarter [PDF 180 kB]
    • Message from the President and CEO − Third quarter 2016 [PDF 1 MB]
  • 2016 − Quarterly Report − Second quarter [PDF 185 kB]
    • Message from the President and CEO − Second quarter 2016 [PDF 744 kB]
  • 2016 − Quarterly Report − First quarter [PDF 166 kB]
    • Message from the President and CEO − First quarter 2016 [PDF 941 kB]
  • 2015 − Quarterly Report − Third quarter [PDF 343 kB]
  • 2015 − Quarterly Report − Second quarter [PDF 310 kB]
  • 2015 − Quarterly Report − First quarter [PDF 282 kB]
  • 2014 − Quarterly Report − Third quarter [PDF 149 kB]
  • 2014 − Quarterly Report − Second quarter [PDF 153 kB]
  • 2014 − Quarterly Report − First quarter [PDF 143 kB]
  • 2013 − Quarterly Report − Third quarter [PDF 153 kB]
  • 2013 − Quarterly Report − Second quarter [PDF 401 kB]
  • 2013 − Quarterly Report − First quarter [PDF 628 kB]

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